A South Dakota pension on Berkshire Hathaway, Kroger and Facebook Stock

Last year, the Pew Charitable Trusts released a study on state pensions, such as they were at the end of fiscal 2016. For most pension systems it was bad news. Total assets were $ 2.6 trillion, which covered a pension liability of $ 4 trillion.

Only four states had the assets needed to pay at least 90 percent of the benefits promised to retirees. Of these four states, two, South Dakota and Wisconsin, had capitalization ratios nearing 100%. South Dakota was 97% and Wisconsin 99%. Later, they both touched …